Knoxville Biz Ticker: General Shale Acquires Watsontown Brick Company

Latest news releases on business happenings in the Knox.biz coverage area. Check back all week for updates.

General Shale Acquires Watsontown Brick Company,

Extending Company’s Presence into Northeastern U.S.

JOHNSON CITY, Tenn. — General Shale, a leading U.S. manufacturer of brick, announces that it has signed an agreement to acquire 110-year-old Watsontown Brick Company, producer of some of the most traditionally crafted brick products in the U.S., at the end of this year.

The acquisition adds a unique, high-quality brick line to General Shale’s extensive masonry products, and expands the company’s presence in the Eastern United States and Canada.

Headquartered in Watsontown, Pennsylvania, Watsontown Brick Company is a third-generation manufacturer that produces a variety of face, thin and molded bricks, along with high-quality pavers, in a wide range of colors, sizes and shapes. The company initially produced street pavers, which were used on city streets throughout the Northeast, and grew its product line to include residential, commercial and architectural brick products. Today, Watsontown Brick employs approximately 50 individuals and operates three production plants that manufacture 92 million brick units annually.

“We are excited to bring this outstanding company into the General Shale group as this acquisition will only strengthen our position as a leader in the U.S. brick industry,” says Charles Smith, president and CEO of General Shale. “Watsontown Brick will expand General Shale’s presence throughout the Northeast and fortify our strong commercial and architectural platform, providing the opportunity for potential growth in new markets and for future consolidation. Both of our companies are dedicated to maintaining our solid customer and distributor relationships as this will only improve our ability to better serve our customers. We are pleased to welcome Watsontown Brick into the General Shale family.”

Going forward, Watsontown Brick Company will retain its name as a subsidiary of General Shale. Mike Fisher, former owner of Watsontown Brick, will serve the company in an advisory capacity.

ABOUT GENERAL SHALE

Celebrating its 90th anniversary in 2018, General Shale is one of North America’s largest brick, stone and concrete block manufacturers. The company offers an endless array of sizes, colors and textures in a wide variety of masonry materials to complete any residential, commercial or specialty architectural project. These materials include brick, thin masonry, stone, outdoor living products, concrete block and various building materials, which include Arriscraft® Stone and Pipelife Jet Stream products.

Throughout the U.S. and Canada, General Shale operates 37 sales and manufacturing facilities, in addition to a network of more than 300 affiliated distributors across North America. The company grew even stronger in 1999 when it joined Wienerberger AG of Vienna, Austria, the world’s largest brick manufacturer. With a life cycle of more than 100 years, the sustainability of brick is General Shale’s commitment to responsible stewardship.

General Shale is headquartered in Johnson City, Tennessee. For more information, visit www.generalshale.com.

Altus Capital Partners, Inc. Acquires ChoiceSpine, LP

Altus Capital Partners, Inc. (“Altus”), an investment firm focused on the North American manufacturing sector, today announced it has acquired ChoiceSpine, LP, a leading designer, manufacturer, and marketer of specialized spinal implants, instrumentation and biologics for the surgical treatment of complex spine disorders. Financial terms of the transaction were not disclosed.

Based in Knoxville, TN and founded in 2006, ChoiceSpine, LP and Knox Spine, LLC (collectively, the Company) collaborates with physicians to develop new products which incorporate current medical technology with customized patient solutions. ChoiceSpine™ products include minimally invasive, cervical, thoracolumbar, interbody, lateral, and biologics kits and implants that increase procedural efficiency and efficacy.

“We recognize the need in the medical technology space for proven spinal products that can enhance the quality of life for spinal patients,” said Altus Co-Founder and Senior Partner Gregory L. Greenberg. “ChoiceSpine, a global medical device corporation specializing in innovative solutions for both spinal fusion hardware and biologics, demonstrates a track record of proven innovation, strong sales growth, increased distribution and the necessity of their products in the marketplace.”

Management will continue to invest in the expansion of the business. Altus Capital Partner Heidi Goldstein added, “We look forward to working with Founders Rick Henson and Marty Altshuler, who continue to invest alongside us in the Company, in further capitalizing on the depth of their design and engineering capabilities, sales growth and momentum.”

“We have built a deep bench of talent that has led the company with an increased focus on product design and engineering which benefit so many patients experiencing spinal injuries,” said Rick Henson. “We look forward to working with Altus in further developing our offerings as well as expanding into new product verticals to continue to grow the company and provide patient solutions for the treatment of spinal disorders,” added Marty Altshuler.

This is Altus’ third acquisition in less than two years and its second in the medical technology space. The firm successfully completed the tender offer for all of the outstanding shares of common stock of MGC Diagnostics Corporation (“MGC”), a global medical technology company dedicated to cardiorespiratory health solutions in December 2017, and the acquisition of Max Environmental Technologies, Inc., an integrated environmental solutions company, in February, 2017.

Denark Wins National Safety Award Again

Denark Construction has once again been named one of America’s safest companies. The award was presented by EHS Today, the Environmental Health and Safety organization’s publication. Denark is headquartered in Knoxville and is perhaps best known for building the Knoxville and Sevierville Convention Centers, the restoration of the Historic Tennessee Theatre, Smokies Stadium in Kodak, and most recently Hardin Valley Middle School. Those projects combined total over $200 million. Current local projects include major renovations to Lakeshore Park, a new Math and Science Building at Pellissippi State Community College and a new International Herpetology Center at Zoo Knoxville.

“Nothing is more important than making sure our employees and subcontractors return home safely to their families at the end of each day,” says Denark President Frank Rothermel. “We are proud to be recognized for emphasizing these values…and it is proof you can operate safely and still finish major projects with quality throughout, on-time and within budget.”

Denark also received this same designation in 2004 after it won the Grand Award for Construction Safety Excellence from the Associated General Contractors of America.

“A safe jobsite doesn’t just happen,” said Denark COO Steve Lucas. “It requires a team effort, focus and a culture that empowers our team members to instinctively correct any potential problems. They fully understand that it is a moral obligation to create a safe environment for everyone, including clients and visitors.”

For the past 13 years, Denark has maintained a lost-time injury rate of 0 on all its jobsites, which compares very favorably against an industry average rate of 1.2.

Founded in 1985, Denark Construction is a full-service general contractor, design-builder, and construction manager, based in Knoxville, Tennessee – with over $1.35 billion in public, institutional, commercial, and industrial contracts over the past 20 years.

Local Heating and Cooling Company Joins National Brands

KNOXVILLE, TN (December 12, 2018) – Locally-owned and operated Rocky Top Air, which has been serving the surrounding area since 2009, has joined forces with One Hour Air Heating and Air Conditioning® (One Hour) and Benjamin Franklin Plumbing®, both national home services brands with independently owned and operated locations throughout North America. The company is now operating as Rocky Top One Hour Heating and Air Conditioning and Benjamin Franklin Plumbing.

With a combined 60 years of experience, owners Gerald Allison and Ben Granger started what has become one of the largest heating and air conditioning companies in the metro Knoxville area. They currently have 35 trucks and 60 employees, who also make the time to give back to their local community. Rocky Top has been actively involved in the Cystic Fibrosis Foundation, Wounded Warrior Project, Care Cuts, ETTAC, Boys and Girls Club, Mission of Hope, and Habitat for Humanity. Allison also currently serves on the Tennessee College of Applied Technology (TCAT) Advisory Board for HVAC curriculum.

“We’re excited to welcome Gerald, Ben and the Rocky Top team as part of our national network,” said Mark Baker, president of Franchise, Direct Energy. “Their commitment to exceptional customer service is what sets them apart, and we look forward to working with them as they continue to serve the community.”

With this move, the local company will be able to continue training staff with the best resources, provide stronger warranties and guarantees, and lower product costs – just in time for the cold winter upon us.

“This is the right next step for our business,” said Allison. “By making the transition to One Hour and Benjamin Franklin Plumbing, we now have more resources available to better serve our customers and provide the best service possible.”

Allison, a Knoxville native, has three children: Brooklyn, 18, Aspen, 15, and Fisher, 12. Ben Granger is originally from New Orleans and has lived in Knoxville for 15 years. Granger has two children: Noel, 19, and Cameron, 16.

The PEAK Platinum Award is the top accolade EO Global awarded to local chapters. EO Knoxville is the only North American chapter, and one of only five in the world, to earn this honor. The local organization was also named “Regional Winner” for member renewal retention in the U.S. East Region, which includes other chapters in Atlanta, Miami, New York City, Philadelphia, Washington, D.C., and other large markets.

“The PEAK Platinum Award is the highest achievement a local EO chapter can achieve,” said Tom Gallaher, past-president of EO Knoxville. “This is a testament to the hard work and dedication of our local entrepreneur community that we’ve been able to win such a prestigious award. Our membership’s commitment to providing the best entrepreneur peer group in the Knoxville area made this possible.”

The award comes with a $15,000 grant that the organization will use to bring in nationally and internationally renowned speakers to further educate Knoxville-area entrepreneurs. Just in the past six months, EO Knoxville has brought in experts from Canada, Michigan, New Jersey, and New Zealand.

Thirty-plus metrics across three categories are used to determine PEAK Platinum winners: member satisfaction, board performance and contributions to the overall strength of the global organization.

“Winning PEAK Platinum indicates that our chapter is strong and that it provides significant value to our members,” current EO Knoxville President Brandon Bruce said. “We hope this award signals to other local entrepreneurs that EO Knoxville is an organization that can positively contribute to their professional and personal lives.”

Since 1987, the Entrepreneurs’ Organization has been transforming the lives of the entrepreneurs who transform the world. As the global thought leader on entrepreneurship, EO plays an integral role in businesses, industries, and the lives of entrepreneurs everywhere.

To learn more about EO Knoxville, visit www.eoknoxville.com.

About EO Knoxville

Entrepreneurs’ Organization (EO) is a global, peer-to-peer network of more than 12,000 influential business owners with 163 chapters in 52 countries. Founded in 1987, EO is the catalyst that enables leading entrepreneurs to learn and grow, leading to greater success in business and beyond.

EO Knoxville currently consists of 33 members responsible for $700 million USD in revenues and who collectively employ more than 2,000 workers. Strategic Alliance Partners of EO Knoxville include Pinnacle Financial Partners, Martin & Company Investment Counsel, TIS Insurance, Premier Solutions International and Coulter & Justus, P.C.

For more information about the Knoxville chapter of EO and how you can join, visit www.eoknoxville.com.

Realty Trust Group Completes Development and Sale of $83-Million MOB for Northside Hospital To Expand Healthcare Services To Midtown Atlanta

Realty Trust Group recently announced the completion and sale of the 169,000 square-foot Midtown Medical office building, a joint-venture between Northside Hospital and physician investors.

The project supports Northside Hospital’s initiative to expand their geographical footprint as part of the growing consumer demand for high-quality, easily accessible patient-centered care in urban community locations. With substantial growth in multifamily residential projects, Midtown Atlanta is a burgeoning community with steadily increasing population and related healthcare needs.

“The Midtown project is a significant milestone for both Northside Hospital and Realty Trust Group,” said Joe Krumdieck, SVP of Realty Trust Group and project leader for the initiative. “Above all, it represents Northside’s dedication to delivering convenient access to outpatient services for Midtown residents. We are proud to have supported the successful delivery of the project.”

The Midtown medical office building will have a broad spectrum of outpatient services, ranging from primary and urgent care to cardiology, oncology and surgical services.

Enhancing Patient/Physician Interaction

In addition to bringing new services to the Midtown market, the building was designed with an emphasis on the patient and physician experience, including ease of access and high-quality, efficient interactions between patients and physicians. “We surveyed other medical buildings in the area and looked for ways to improve the patient experience - parking, signage, location of services within the building,” said Craig Flanagan with Realty Trust Group.

Outpatient Development Strategy

The Midtown project is the latest in a number of strategic development projects RTG has spearheaded for Northside’s approximately 3.5 million-square-foot outpatient portfolio supporting the three-hospital health system.

Realty Trust Group supported all phases of the project development, including site selection and assemblage, physician leasing and syndication, and program management services for design and construction of the project. RTG will continue to provide property management services post-closing.

Results

At the time of the sale, the 169,000 square-foot medical office building was 98% leased by the hospital and multiple third-party physicians. The sale reflects the strong demand by institutional investors for premier healthcare real estate assets, especially those in major metropolitan markets. At a sale price of $491 per square foot, the transaction will likely go down as one of the largest medical office transactions of 2018.

TVA wants input on Gallatin coal ash storage

Tennessee Valley Authority plans to close several coal ash storage ponds from its Gallatin Fossil Plant in Sumner County, and wants public comments on its required Environmental Impact Statement.

The agency may leave the ash where it is, remove it, find a “beneficial use” for it, or some combination, according to a TVA news release. Through Jan. 11, it’s taking comments from the public on what to do.

“Specifically, the EIS (Environmental Impact Statement) will examine closure of three ash ponds and a non-registered site, which has not accepted ash since the 1970s,” the news release said. “TVA will also consider removal of CCR (coal combustion residuals) from onsite stilling ponds and from the bottom ash pond at Gallatin. Currently, a majority of new CCR produced at Gallatin is stored dry in a permitted onsite landfill.”

The Gallatin plant is on the Cumberland River northeast of Nashville. In 2020, when a new dewatering plant is finished, the transition from storing coal ash wet to storing it dry will be complete.

“The EIS will also consider a No Action Alternative, whereby TVA assumes it would not close any of the surface impoundments at Gallatin,” the news release said. “This alternative is included to provide a baseline for potential environmental impacts.”

Comments have to be in by Jan. 11, 2019. They can be submitted online at www.tva.com/nepa, emailed to CCR@tva.gov, or mailed to Ashley Farless, NEPA Compliance Specialist, Tennessee Valley Authority, 1101 Market Street, BR4A-C, Chattanooga, TN 37402.

All comments, including names and addresses, will become public record, the news release said.

Capital, First Tennessee offer new online business services

Capital Bank and First Tennessee Bank have launched websites for merchant banking services, according to a news release from First Horizon National Corp., parent company of Capital and First Tennessee.

“We are pleased to offer this new digital channel to our clients, improving client experience and simplifying the process to enroll in merchant services and access Clover solutions,” John Levesque, First Horizon merchant services executive, said in the announcement. “This is a win, especially for small business owners, because Clover solutions are smart, easy to use and can be customized by business owners to best manage their companies and employees. By understanding their unique operational needs, this is one more way we are helping equip our clients with solutions designed to enhance their cash flow.”

Clover is a point-of-sale system available to business clients, which includes access to more than 300 apps for business owners. Through the new merchant services, processed by First Data, businesses can also get credit approval, the news release said.

“First Data’s digital enrollment platform is helping Capital Bank and First Tennessee transform the client experience by delivering simplicity and efficiency to their merchant clients online,” Neal Korzekwinski, senior vice president of First Data, said in the announcement. “In a matter of minutes a business owner can shop for Clover products, enroll in a merchant account, and get credit approval.”

Senior housing sold in Knoxville

Northshore Heights LLC, formerly known as Northshore Senior Living, has a new owner.

Hamister Real Estate Equity Fund III LP, a subsidiary of Buffalo, New York-based Hamister Group LLC, is the buyer, according to a news release.

The 69-unit assisted living and memory care facility in Knoxville, sited on seven acres at 8804 S. Northshore Drive, opened in 2017. It was owned by a regional developer; Institutional Property Advisors, a division of Marcus & Millichap, represented the seller.

“At the time IPA was engaged, the property had not yet hit 70 percent occupancy,” IPA senior director Josh Jandris said in the announcement. “Through its marketing efforts, IPA produced five offers, ultimately closing with an out-of-state buyer with over 40 years of experience in the senior living industry.”

Food City hosts public for holidays on Saturday

Every Food City in the area will hold a public open house for the holidays 11 a.m. to 4 p.m. Saturday, Dec. 8, with entertainment, crafts, door prizes, and food samples storewide, according to a company news release.

“Bring the entire family and enjoy these tasty treats and special events throughout the store,” the news release said. “We invite you to come be our guest and celebrate the magic of the holidays – from your friends at Food City!”

According to the news release, specials during the open house include:

$5 off any party tray of $15 or more ordered during the open house;

Prepared holiday meals available for advance order and store pickup; and

Sale prices on items storewide.

Vanquish recognized as Top 3 veteran-owned small business in United States

Knoxville-based Vanquish Worldwide LLC, announced today it has grown over the past four years into the third-largest veteran-owned small business in the country providing professional logistics support management services. In a September 2018 prime contract spending analysis report by Deltek GovWin IQ, Vanquish was listed third as a federal prime contractor under professional logistics support services in both the veteran-owned (VOSB) and service-disabled veteran-owned small business (SDVOSB) categories. Vanquish provides global support services to the U.S. government and commercial market sector.

As U.S. military forces continued to draw below World War II levels, but still maintain continuous global operational missions, ASC has needed companies like Vanquish to perform critical installation and combat unit maintenance, supply and transportation services to support the combat solider, known as a warfighter.

Since 2015, Vanquish has provided support to the U.S. military at Fort Stewart, Georgia; Hunter Army Airfield in Savannah, Georgia; Fort Rucker, Alabama; Eglin Air Force Base, Florida; Fort Bragg, North Carolina; Schofield Barracks, Hawaii; Marine Corps Naval Air Stations in Cherry Point, North Carolina, New River, North Carolina, and Beaufort, South Carolina; and within the Afghanistan combat theater, as well as for the Environmental Protection Agency (EPA) in Seattle, Washington, Portland, Oregon, and Anchorage, Alaska.

“With many of us at Vanquish also military veterans, we understand the critical nature and importance of delivering excellent services and support to our warfighters here in the U.S. to help them prepare for ongoing global deployments,” Vanquish Executive Vice President Greg Guiney said. “Vanquish is very proud and honored to be able to continue serving our nation and armed forces.”

Since 2007, Vanquish has successfully managed and overseen complex, multifaceted programs specializing in intelligence, logistics support, security services, staffing, training, life support and other operational requirements throughout the United States, Middle East, Pacific and Africa. Vanquish is headquartered in Knoxville, Tennessee.

Clayton Properties Group Acquires Mungo Homes

Founded in 1954 by Michael J. Mungo in Columbia, S.C., the multigenerational, previously family-owned and operated homebuilder is now led by CEO Steven Mungo. An award-winning builder, Mungo first expanded outside of the Columbia, S.C., market in 2003 to Charleston, S.C. Mungo now builds homes in eight markets throughout South Carolina, North Carolina, Georgia and Alabama, making them the largest builder to join Clayton Properties Group.

“Clayton’s partnership equips our team with innovative tools and technologies, superior leadership training and purchasing power that allows us to continue to grow Mungo with a focus on stability, team members and customers,” said CEO Steven Mungo. “It creates the highest level of opportunity for our company as a whole while allowing us to retain our culture and corporate identity.”

“Mungo Homes is a natural fit for our distinguished group of homebuilders,” said Clayton Home Building Group President Keith Holdbrooks. “Their pillars of success stem from a longevity in the home building industry that is over 60 years old and began when Steven’s father, Michael Mungo, founded the company. The family-like culture is a direct correlation to Mungo’s deep focus on team member and customer experience. Mungo’s tenure in the industry is paramount, and we look forward to coupling this with the talents of our other builders to pursue innovation in housing together.”

The Clayton Properties Group business model stays consistent as they partner with world-class companies in strong growth markets that share the same goals in their culture, innovation and commitment to customer and team member experience.

“Culture was the most important factor in this decision,” said Mungo. “We’ve had offers and overtures from many public home builders over the years, but we never wanted to become part of something that didn’t stand for anything. It was also the most important factor for Clayton. Our strong management and commitment to our communities and team members are qualities that can be found in each of the builders in Clayton Properties Group.”

In 2012, Mungo was named America’s Best Builder by Builder magazine, which is based on overall excellence in homebuilding and is determined by finance and operations, design and construction, customer service and quality, community and industry service and marketing. That same year, the National Association of Home Builders honored Mungo as the National Green Advocate of the Year for hauSmart, Mungo’s exclusive energy-efficiency program. The company was also recognized as the winner of the 2008 National Housing Quality Award and is the only South Carolina-based builder ever honored with this prestigious award.

Mungo sold nearly 1,800 homes in 2017. The company is ranked 33rd on the 2018 Builder Magazine’s Builder 100 list and is projected to close on approximately 1,900 homes in 2018.

Mungo is the eighth acquisition for Clayton Properties Group, and the third this year. Their market footprint now reaches Alabama, Colorado, Georgia, Kansas, Missouri, Tennessee, Texas, Utah, Indiana, South Carolina and North Carolina. Clayton Properties Group is ranked 29 on the 2018 Builder Magazine’s Builder 100 list, and with the addition of Mungo, is on pace to build over 4,200 homes by the end of 2018.

Suspicious? Report hinky ads to BBB AdTruth

Doubt an ad’s being straight with you? Tell the Better Business Bureau through BBB AdTruth’s new consumer reporting service at www.bbb.org/ad-truth.

The BBB’s specialists can then investigate and assess the truthfulness of an ad, according to a news release.

“Misleading advertising is a huge source of frustration for both consumers and honest businesses in today’s marketplace,” Melissa Trumpower, executive director of the BBB Institute for Marketplace Trust, said in the announcement. “Although BBB has always called out fraudulent, confusing or unsubstantiated advertising, this new reporting function provides another way for consumers to be our allies in the fight for truth-in-advertising.”

The site will guide you through questions about the advertisement: where it was seen, what claims were made, and why it’s concerning, according to the news release. You can also upload pictures.

The BBB AdTruth program started in 2013, aiming to teach consumers how to spot and report misleading ads.